According to Young Zoo of Cryptoctive CEO, the recent price action of bitcoin has been greatly affected by the whale on the coinbase.
In the 26 February post on X, JU stated that the Spot Volume of the Coinbase, which refers to the part of the Total Bitcoin (BTC) spot trading volume on the exchange, had increased above 30% in the last week.
At the same time, the coinbase BTC premium, which tracks the price difference between other exchanges such as bitcoin and binenns on the coinbase, remained negative. This shows that American investors, especially institutional people, are running both the bull market and recent improvement.
Coincidence with whale activities on the coinbase, Spot Bitcoin ETFS recorded its biggest single-day outflow since launch, with $ 937.78 million on 25 February, on February 25, on February 25, according to Sosarwale, according to Sosarwale, dataThe figure crossed the previous record of $ 680 million in the outflow on December 19, 2024, with signaling raising the sale pressure from institutional investors.
Meanwhile, 10X research reports reported that only 44% of the US bitcoin ETF inflow are for long holding, while the rest of the possibility is associated with arbitration strategies. This suggests that the real long-term demand for bitcoin as a property in multi-vital portfolio can be much smaller than media narratives.
The current market pulback is largely triggered by macroeconomic factors that contribute to the uncertainty of the market. Former US President Donald Trump’s proposed 25% tariffs on Canadian and Mexican imports are scheduled to be effective in March, which increase the possibility of increasing inflation.
Despite the improvement, the CEOs of Cryptoctive remain faster for a long time. In February 19 PostHe argued that the bull cycle of bitcoin is still intact, given that the previous cycles saw a fall of up to 30% from the high level of all time without indicating a bear market.
